Branford Microfund Receives $6K from Branford Community Foundation

BRANFORD, CT — The Branford Microfund recently received a $6,000 grant from the Branford Community Foundation to support its ongoing effort to provide interest free loans to individuals and families who encounter unexpected financial obstacles.

As Branford Community Foundation Executive Director Liza Janssen Petra explained, “BCF is honored to support this important initiative that provides a unique service for someone who finds themself in a financial bind. A free loan for an emergency could mean the difference between making it and falling through the cracks.”

The Branford Microfund is a local non-profit organization run by Branford volunteers and community leaders to help its neighbors during difficult times. They provide interest free loans of up to $3,000 to Branford residents to help lighten immediate financial burdens. Repayment is expected over a maximum of 30 months.

The organization represents residents giving each other a helping hand. Their partners include the Blackstone Memorial Library, Branford Counseling & Community Services, Branford Food Pantry, Community Dining Room, First Congregational Church of Branford, Rotary Club of Branford, Willoughby Wallace Library, and the Women & Family Life Center. They work together with the philosophy to “pay it forward” – when a loan recipient repays a loan, the money becomes available to help another person in need.

Branford Microfund chairperson Mina West, board member Tom Laurenson, and advisory committee member Alice Laurenson recently attended Laurenson recently attended a reception to welcome new clergy to Branford, including Father Thomas Blake of Trinity Episcopal, Reverend Maria Hammonds of Tabor Lutheran, and Reverend A.J. Smith, of the First Baptist Church of Branford. The event, hosted by Reverend Joseph Perdue at the First Congregational Church, was an informal evening of sharing and an exchange of ideas for Branford residents in need of support.

This kind of outreach is important, as it connects the BMF with community leaders who work directly with residents in need. As a result, the BMF has supported 14 loans for local families so far this year.

“Sometimes people just need to discuss their concerns to move forward,” West said, “Our team can provide information and referrals to other local or government agencies.”

On its website, one can find a pre-loan application. A "quick turn-around in the initial process," is promised.

Learn more about the Branford Microfund, and how to apply here.